Adani to buy 49% stake in Maharashtra Border Check Post Network Ltd
ROADS & HIGHWAYS

Adani to buy 49% stake in Maharashtra Border Check Post Network Ltd

Adani Enterprises Limited (AEL) announced that its wholly-owned subsidiary is acquiring a 49% stake in Maharashtra Border Check Post Network Limited (MBCPNL), including an option to get an additional stake subject to regulatory permission.

The company revealed that the acquisition took place at an enterprise value of Rs 1,680 crore, executing engaging earnings before interest, taxes, depreciation, and amortization (EBITDA) multiple of 7x.

Enterprise value (EV) is a measure of a company's total value, usually used as a complete alternative to equity market capitalization.

EV comprises in its estimate the market capitalization of a firm but also long-term and short-term debt too as any cash on the balance sheet of the company.

The firm said that the deal is subjected to customary regulatory and lender's permissions and is likely to close in Q3 FY22.

MBCPNL is a subsidiary of Sadbhav Infrastructure Project Limited (SIPL). According to the media reports, MBCPNL has 24 integrated check-posts with expensive service charge collection rights from commercial vehicles for each key traffic route in and out of Maharashtra.

MBCPNL is a significant gateway linking Maharashtra with six adjacent states, covering 20% of the commercial road traffic in the country. As of September 30, 2021, the estimated debt of MBCPNL is Rs.1,130 crore.

On the other hand, ARTL is a transport infrastructure developer committed to the construction and maintenance of roads, highways, and expressways

Adani Enterprises shares closed at Rs 1,430 each on the Bombay Stock Exchange (BSE), declining 0.41%.

Image Source

Adani Enterprises Limited (AEL) announced that its wholly-owned subsidiary is acquiring a 49% stake in Maharashtra Border Check Post Network Limited (MBCPNL), including an option to get an additional stake subject to regulatory permission. The company revealed that the acquisition took place at an enterprise value of Rs 1,680 crore, executing engaging earnings before interest, taxes, depreciation, and amortization (EBITDA) multiple of 7x. Enterprise value (EV) is a measure of a company's total value, usually used as a complete alternative to equity market capitalization. EV comprises in its estimate the market capitalization of a firm but also long-term and short-term debt too as any cash on the balance sheet of the company. The firm said that the deal is subjected to customary regulatory and lender's permissions and is likely to close in Q3 FY22. MBCPNL is a subsidiary of Sadbhav Infrastructure Project Limited (SIPL). According to the media reports, MBCPNL has 24 integrated check-posts with expensive service charge collection rights from commercial vehicles for each key traffic route in and out of Maharashtra. MBCPNL is a significant gateway linking Maharashtra with six adjacent states, covering 20% of the commercial road traffic in the country. As of September 30, 2021, the estimated debt of MBCPNL is Rs.1,130 crore. On the other hand, ARTL is a transport infrastructure developer committed to the construction and maintenance of roads, highways, and expressways Adani Enterprises shares closed at Rs 1,430 each on the Bombay Stock Exchange (BSE), declining 0.41%. Image Source

Next Story
Infrastructure Energy

Adani Green Adds 212.5 MW Solar in Gujarat

Adani Green Energy Ltd. has commissioned a 212.5 MW solar power project at Khavda, Gujarat, through its subsidiary Adani Renewable Energy Fifty Seven Ltd. This addition brings Adani Green's total operational renewable capacity to 13,700 MW, as per a stock exchange filing. Last month, Adani Green became India's first renewable energy company to cross 12,000 MW of operational capacity. The company is also developing the world's largest 30,000 MW renewable energy plant in Khavda, spanning 538 sq km—about five times the size of Paris and nearly as large as Mumbai. Upon completion, it will be th..

Next Story
Infrastructure Energy

ONGC NTPC Green Acquires Ayana for Rs 62.5 Billion

ONGC NTPC Green Pvt Ltd (ONGPL) has completed the Rs 62.5 billion acquisition of Ayana Renewable Power, securing a 100% equity stake. The 50:50 joint venture between NTPC Green Energy Ltd (NGEL) and ONGC Green Ltd finalized the deal. NGEL contributed Rs 31.2 billion toward the acquisition, aligning with its goal to achieve 60 GW of renewable capacity by 2032. Ayana, a key player in India's green energy sector, has a 4,112 MW portfolio, with 2,123 MW operational and 1,989 MW under construction. Its projects are backed by high-credit-rated buyers, including SECI, NTPC, GUVNL, and Indian Railw..

Next Story
Infrastructure Transport

Cabinet Approves Rs 37.1 Billion Patna-Sasaram Corridor

The Union Cabinet has approved the construction of a four-lane access-controlled Patna-Sasaram corridor in Bihar at an estimated cost of Rs 37.1 billion. The 120.1 km project, to be developed under the Hybrid Annuity Mode (HAM), aims to ease congestion and enhance connectivity. Currently, travel between Sasaram, Arrah, and Patna takes 3-4 hours due to heavy traffic on state highways. The new corridor will integrate greenfield and 10.6 km of brownfield upgrades, linking key cities such as Arrah, Grahini, Piro, Bikramganj, Mokar, and Sasaram. The project will connect NH-19, NH-319, NH-922, NH-..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?